Did you know U.S. companies lose over $130 billion a year due to customer switching?
As a business owner, how much are you losing when your customer switches to your competitor? It’s even worse when you realize that these losses are completely avoidable.
The question is: how do you keep your customers loyal to your business?
There are several steps you can take to achieve this, but no is as effective as hiring a relationship manager. Did you just ask who is a relationship manager and what their responsibilities are?
We’ve got you covered when it comes to CRM - customer relationship management!
Continue reading to learn what a relationship manager can do for your business and company customers.
Improving Customer Relationships
Anybody can guess that a relationship manager is responsible for building and maintaining relationships. In business, that’s exactly what they do – creating positive relationships with your customers.
Just like in other aspects of life, your business needs to strike good relationships with customers, clients, other businesses, and even government agencies. However, it’s your relationship with the customer that matters the most.
However, these relationships don’t just happen. You need a professional who understands customer behavior to help your business build these relationships.
That said, improving customer relationship is a broad view of this manager’s job. Here’s are some of the things they do to achieve improved customer relations.
Assessing the Company’s Relationship Status with Its Customers
Even if you’ve never hired a relationship manager before, your business already has an existing relationship with its customers. The relationship could be strained, thriving, or anything in between.
Once you hire this manager, one of their fast tasks is to perform an audit and establish the kind of relationship your business has with its customers.
Finding Ways on How to Improve Customer Relationships
At the end of the day, a relationship manager's primary responsibility is to improve customer relations. They just have to find ways to make this happen.
For instance, a relationship manager can find that providing more contact channels will improve customers' experience and lead to better relationships. If a customer is spending several minutes on the line waiting to speak to a representative, it’s this manager’s job to find ways to reduce this wait time. A good solution would be adopting a co browsing software, which lets a company communicate in real-time with its customers.
After finding ways to improve customer relationships, they will typically make recommendations to the company’s top management. In some cases, the company will delegate the task of implementing these recommendations to other specialists, but most of the time, the relationship manager will be tasked with implementing them.
Improving Internal Relationships
A relationship manager is also responsible for fostering a good relationship between the company’s ownership and top management, and the regular workers. This manager will find ways to make the regular worker’s life better at the company.
Your Business Needs a Customer Relationship Manager
Hiring a customer relationship manager might seem like an unnecessary expense, especially if you’re a small business on a shoestring budget. But as we have demonstrated, this professional can help your business build stronger relationships with customers.
Keep reading our blog for more business tips and insights on customer relationship management. Visit the CX section of our business blog right now!
